"LaBella"  Plans to Establish Gold Factory in Egypt

Emirati Company, "LaBella " for the manufacture of gold and jewelry, plans to open a factory in Egypt in partnership with a local manufacturer.

Sohaib Al-Sheikh, Chairman of the Board of Directors of "LaBella ", said that the Egyptian market is the largest market for gold and jewelry in the Middle East, and enjoys a huge purchasing power of more than 100 million citizens.

He added that Egypt's growing economic growth rates have become an element of attraction for investors, in light of the state's tendency to improve infrastructure and bring about changes in the legislative environment.

He pointed out to the state's announcement of the establishment of a city for gold, turning Egypt into a regional center, stressing that the Egyptian market is characterized by lower production costs.

The Chairman of the Board of Directors of "LaBella" also stressed the necessity of lifting export restrictions, facilitating procedures and canceling fees, in order to expand the circle of the consumer market.

He explained that the company owns a factory for the production of gold and diamond  in  Sharjah, in addition to several commercial stores in Dubai, Abu Dhabi, Qatar and Saudi Arabia, while the company is preparing to open several branches in Germany, Italy, France, London and Toronto, as part of its expansion plan.